The Mumbai Metropolitan Region Development Authority (MMRDA) announced on Friday that it has approved a budget of Rs 28,704.98 crore for the 2023-24 fiscal year. The focus of the budget will be on projects aimed at reducing traffic congestion in the urban areas of the Mumbai Metropolitan Region (MMR).
The estimated expenditure for the projects will be Rs 27,079.69 crore, or 94 percent of the total budget, and will be spent on roads and bridges, public transport, and other infrastructure projects. Additionally, the state government has allowed the MMRDA to raise loans up to Rs 60,000 crore.
Also Read: Soon, travel from Nariman Point to Mumbai-Pune expressway in just one hour
During the meeting, the MMRDA also approved the revised estimate for the 43-km sea bridge between Versova and Virar, which has been increased from Rs 40,000 crore to Rs 63,426 crore. The MMRDA also approved the construction of a 3.8-km-long tunnel for vehicles between Orange Gate on Eastern Freeway and Marine Drive on the Coastal Road.
S V R Srinivas, MMRDA Commissioner, said that the focus of the authority is to improve seamless connectivity in MMR, and that the authority will undertake important regional connectivity projects such as the Versova-Virar sea bridge and Thane-Borivali twin tunnels. He added that the MMRDA plans to use bamboo in the construction of Metro stations as a pilot project, and that the Mumbai Eye project will be taken up on a public-private partnership model.
Furthermore, the MMRDA has sought permission from the state government to take over toll collection at Mumbai’s entry points from 2027 to improve its revenue. Currently, the Maharashtra State Road Development Corporation (MSRDC) is in charge of toll collection. Srinivas said that the government has agreed in principle to the proposal, and that the MSRDC has decided to hand over four entry points out of five. The MMRDA will introduce an open road toll system and shift the locations of the toll points to minimize waiting time for motorists.
Also Read: Provisions for New Metro Projects in Mumbai, Pune, Nagpur
Srinivas emphasized that on-time delivery is as important as execution, and that the MMRDA is implementing new projects along with completing existing ones. He expressed that toll can be a good source of revenue for the MMRDA to carry out mega development projects. He added that using bamboo for construction will help push the green initiative, and that these stations will be cooler compared to the concrete stations.
Share
Tweet
